In the fiscal year under review, recurrent expenditures are expected to account for 86.1% of total national expenditures, as per the Economic Survey report released by the Kenyan National Bureau of Statistics. The report also indicated a GDP growth rate of 4.7% in the East African Community, down from the initial projection of 5.4%. Specifically for Kenya, the GDP growth rate decreased to 4.7% from a revised figure of 5.7%.
The report further highlighted that the nominal GDP rose to KSh 16,224.5 billion in 2024 from KSh 15,033.6 billion in 2023. This increase reflects the overall economic performance of the country. Additionally, Kenya’s exports saw a positive trajectory, growing by 10.4% to KSh 1,112.3 billion. The export industry plays a crucial role in driving economic growth, creating employment opportunities, generating foreign exchange earnings, and enhancing trade relationships on regional and global scales.
Kenyan exports such as tea, coffee, cut flowers, vegetables, and fruits have gained popularity in overseas markets, particularly in Europe and the Middle East. The revenue generated from these exports helps meet the country’s import demands, stabilize the local currency, and maintain a healthy balance of payments. The demand for Kenyan products abroad encourages local industries to expand, hire more workers, and combat unemployment.
In the last fiscal year, the top 5 products that Kenya exported the most were:
1. Horticulture – KSh 203.6 billion
2. Tea – KSh 189.1 billion
3. Apparel & Clothing – KSh 56.8 billion
4. Coffee (unroasted) – KSh 38.4 billion
5. Animal & Vegetable Oils – KSh 30.3 billion
These products have been key contributors to Kenya’s export revenue, showcasing the country’s competitive advantage in various sectors. Overall, the export industry remains a vital component of Kenya’s economy, driving growth, creating jobs, and enhancing its global presence.
